Hong Kong regulators approve spot bitcoin and ether ETFs

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107379610 1709129452291 gettyimages 2021274538 porzycki bitcoina240221 np29w

Hong Kong regulators approved the launch of spot bitcoin and ether exchange-traded funds (ETFs) on Monday, following similar moves in the U.S. Three ETF providers have been approved by Hong Kong’s Securities and Futures Commission (SFC), including ChinaAMC, which is actively developing a spot bitcoin and ether ETF. OSL Digital Securities will serve as a custodian for ChinaAMC. Harvest Global and Bosera International have also received SFC approval for bitcoin and ether ETFs. While these ETFs have been approved, they have not yet been launched. It’s worth noting that crypto trading is banned in mainland China, but Hong Kong has been positioning itself as a regulated crypto hub. The approval of bitcoin ETFs in the U.S. has seen significant inflows of funds, and many believe ETFs will attract traditional investors to the crypto market. Hong Kong’s move to approve an ether ETF makes it one of the first in the world to do so, as the U.S. Securities and Exchange Commission has not yet approved such a product. Asset managers do not expect the SEC to approve an ether ETF.

Hong Kong regulators have approved the launch of spot bitcoin and ether exchange-traded funds (ETFs), following similar moves in the U.S. Three ETF providers, including ChinaAMC, Harvest Global, and Bosera International, have received approval but have not yet launched the ETFs. Hong Kong’s approval of these ETFs comes as part of its efforts to become a regulated crypto hub, competing with other locations like Dubai and Singapore. The approval of these ETFs allows for traditional investors to enter the crypto market without owning the underlying assets. The U.S. Securities and Exchange Commission has not yet approved an ether ETF, making Hong Kong one of the first places in the world to do so.

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